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Average Annual Return on Investment Formula

The average annual return for an investment is given by the formula
r= (s/p)^1/n -1

where p is the initial investment and s is the amount it is worth after n years. The top mutual fund for 1997 in the 3-year category was Fidelity Select-Energy Services, in which and investment of $10,000 grew to $31,895.06 from 1994 to 1997.

Find the 3-year average annual return for this fund

Solve the formula for s (the amount)

Solve the formula for p (the principal)

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